New York State Common Retirement Fund Increases Position in Credicorp Ltd. $BAP

New York State Common Retirement Fund increased its holdings in Credicorp Ltd. (NYSE:BAP) by 23.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 79,473 shares of the bank’s stock after buying an additional 15,054 shares during the period. New York State Common Retirement Fund’s holdings in Credicorp were worth $21,162,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Federated Hermes Inc. increased its stake in shares of Credicorp by 6.2% in the 3rd quarter. Federated Hermes Inc. now owns 81,994 shares of the bank’s stock valued at $21,833,000 after purchasing an additional 4,800 shares in the last quarter. One Wealth Advisors LLC grew its holdings in Credicorp by 2.5% in the third quarter. One Wealth Advisors LLC now owns 1,781 shares of the bank’s stock valued at $474,000 after purchasing an additional 43 shares during the period. Vanguard Personalized Indexing Management LLC acquired a new stake in Credicorp in the 3rd quarter valued at $223,000. ARGA Investment Management LP grew its position in shares of Credicorp by 1.3% in the third quarter. ARGA Investment Management LP now owns 698,267 shares of the bank’s stock valued at $185,935,000 after purchasing an additional 8,758 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its stake in Credicorp by 25.2% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 291,237 shares of the bank’s stock valued at $77,551,000 after buying an additional 58,690 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Credicorp Trading Down 2.4%

Shares of NYSE:BAP opened at $356.60 on Friday. Credicorp Ltd. has a 52 week low of $165.51 and a 52 week high of $365.42. The company’s 50 day moving average is $295.78 and its two-hundred day moving average is $268.58. The company has a market cap of $28.36 billion, a PE ratio of 16.07, a P/E/G ratio of 0.82 and a beta of 0.89. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.63.

Credicorp (NYSE:BAP) last posted its earnings results on Thursday, November 13th. The bank reported $6.17 EPS for the quarter, beating the consensus estimate of $6.05 by $0.12. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.71 billion. Credicorp had a return on equity of 19.50% and a net margin of 23.59%. Equities analysts predict that Credicorp Ltd. will post 21.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Credicorp in a report on Monday, December 29th. JPMorgan Chase & Co. upped their price objective on shares of Credicorp from $242.00 to $310.00 and gave the stock an “overweight” rating in a report on Friday, November 21st. Wall Street Zen cut Credicorp from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. Finally, The Goldman Sachs Group raised their price target on shares of Credicorp from $263.00 to $293.00 and gave the company a “neutral” rating in a research report on Tuesday, January 13th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Credicorp presently has an average rating of “Moderate Buy” and a consensus price target of $290.20.

Credicorp Profile

Credicorp Ltd. (NYSE: BAP) is a Lima-based financial services holding company that operates a diversified group of banking, insurance, and investment businesses. Established in the mid-1990s, Credicorp’s principal subsidiaries include Banco de Crédito del Perú (BCP), Mibanco (microfinance), Credicorp Capital (investment banking and asset management) and Pacífico Seguros (insurance). The company serves retail, commercial and corporate clients and is one of the largest financial conglomerates in Peru.

Through Banco de Crédito del Perú and its retail network, Credicorp provides a full suite of banking products including deposit accounts, consumer and commercial loans, mortgages, payment and transaction services, and digital banking solutions.